Wednesday, April 22, 2009

Speaking As An Expert

ou should develop a genuine focus on being “of service.” Develop authentic curiosity - focus on everyone’s favorite subject, ME. Ask questions focused on them, such as “tell me how you got started in this business?” or “who would be a good referral for you?”

I once worked with a salesperson who pointed out a lawyers office as we were driving and then a few moments later, a chiropractor’s office and said, “They do business together because of me – I brought them together. They are both my clients and now each others clients.” That’s netweaving and it’s one of the most powerful ways to prove your value to people – and stand head and shoulders above the crowd of other me-me-me sales people.

In fact, your goal should be to become a you-you-you sales professional!

Are you magnetic?

Another aspect involves the concept of magnetism. Working like a magnet – to attract people to you, almost irresistibly – instead of laboriously panning for gold among the pebbles can make the single biggest difference in dramatically increasing a sales professional’s effectiveness.

What if, through your efforts, you drew people to you? You have heard of people with magnetic personalities? This is called magnetic marketing!

In magnetic marketing, you move away from sales “rocks” to find your valuable iron ore – or sales “magnets.”

Here is a question to get you started thinking about magnetic marketing – How can you convert prospects into SUBSCRIBERS?

That’s right – subscribers. People who actually want to hear from you, value the information you bring to them, and look forward to the next time you call, email, or send them something in the mail, simply because of its intrinsic value.

In other words, how do you keep prospects coming back for more of what you have to offer? Simple: offer useful information on a regular basis.

Becoming a geyser of information

That leads to the next logical question, which is How can you become a valuable geyser of useful information?

Once you’ve answered this question, you’ll start pulling people toward you so they will WANT to do business with you. They will call YOU! Wouldn’t that be something? Well it can be done!

The way to do this is to develop a marketing/ prospecting plan, including creating information products, outreach tools, and using speaking and publishing opportunities (yes, for salespeople) to build your expert status.

Publish a newsletter on a regular basis and send it to your clients and prospective clients. Fill it with valuable tips, advice techniques and information. Don’t use boilerplate newsletters prepared for your industry – make this real, make it personal, and aim it squarely at your best prospects and clients.

Let’s face it: you are an expert in your particular product and industry – or should be. So show off your expertise!

In the age of technology, cost is no barrier, because you can create a wide variety of valuable tools electronically: annotated PowerPoints, white papers, audio programs, cost and savings calculators, short articles, tip sheets, and checklists. These take minutes to create (maybe an hour or so to do one really well) and can pay off in huge ways.

Just make sure you don’t produce a thinly disguised sales pitch (people can see right through that!) and do provide solid information to increase your credibility.

Secret #1: Publishing

Most publishers of industry and trade magazines and newsletters are HUNGRY for content. Not to mention websites, e-zines, industry specific online forums, and countless in-house publications (probably a good number of which are published by your prospect companies!)

The content is gobbled up every month and editors are always looking for NEW stuff. So all you have to do is ask and submit! When you get published you now have (wave the magic wand) TAAA-DAAA…Instant credibility!

Suddenly you’re an “industry expert.” Hey it’s not fair – but that is how it works! Wouldn’t you want to buy from an industry expert? Or at least speak to him or her for a few minutes on the phone to tap into their expertise?

Secret #2: Speaking

Associations are HUNGRY for speakers and they need one every time they have a meeting.

Package your expertise as a nice little 30 minute talk and you are now ready to speak to your future buyers!

Again, don’t make it a sales pitch; make it content rich and helpful.

If you sell copiers, do a talk on 10 Hot Trends in Office Technology. If you sell restaurant supplies, do a presentation on How to Increase your Business Traffic 100%.

When you speak, you become an expert – and usually get a list of the attendees so you can follow up.

Now you may say, “I’m not very good at public speaking.”

Usually when I hear people say that, it means one of three things:

  • They tried it before and didn’t like it because they gave a pitch from the podium and got zero response (which is exactly why I warned you about this a minute ago!)
  • They don’t want to put in the “extra work” to create, develop, and pursue delivering short, value-rich speeches.
  • They don’t know where to begin.
  • If you fall into the first two categories, all I can suggest is that in order to change your results, you’ll need to change your behavior.

    If you’re in the third category, there are many options open to you, including the truly valuable Toastmasters organization, and presentation coaches who can get you comfortable, and even excited, in developing good speaking skills within a couple of months. Here is the formula:

    PR+V= Cx10

    Good PR and Visibility increases your Credibility times 10!

    Basic Marketing Ideas for your Marketing Calendar

    I like to keep a running list of ways people can market their businesses. As I see new ones, I like to add to the list, and share it with the women in my mastermind, and network. It's particularly helpful when I am planning or updating my marketing calendar.

    There is also a PDF Marketing Calendar template available for for download; and this list is also available in PDF format for download here. The article before this one lists the questions you should be able to answer about your business and your customers before you get to this planner. And of course, there is the annual list of special dates (Canadian) and seasonal topics to tie your marketing to.

    As for this list, you can drop me a line to let me know if you have found it useful, or if there are ideas you think should be on it. - Gisela

    The Basics:

    • Branding (name, logo, colours, identity: packaging, letterhead & envelopes)
    • Brochures
    • Business Card
    • Flyers
    • Sales letters
    • Networking
    • Referrals
    • Newsletters
    • Free Samples
    • Cold Calling
    • Sandwich board
    • Magnetic signage on cars
    • Hold Events
    • In-store Signage
    • Store Dressing
    • Staff Dress-up
    • Word of Mouth
    • Phone Listing
    • Join Associations
    • Clothing

    Direct Mail:

    • Sales Letter (series)
    • CDs
    • Postcards

    Traditional Media:

    • Press Releases
    • Newspaper Ad
    • Magazines
    • Radio Interviews
    • Publicity

    Not-so-basic:

    • Write a Book
    • Blimp/sky writing/plane banners
    • Billboards
    • Subway / Transit Ads
    • Landscape Ads

    E-marketing:

    • Website (including Search Engine Optimization)
    • Online Advertising Campaign
    • Newsletters
    • Affiliate/Referral Programs
    • Web banners
    • Directories
    • Writing Articles
    • Network / post to discussions where your target market hang out

    Cross Promotion:

    • Prize Packages
    • Sponsorships
    • Coupon books
    • Write for other company’s newsletters/publications

    Appearances:

    • Tradeshows & Exhibitions
    • Meetings, Conventions
    • Speaking Engagements
    • Festivals
    • Conferences
    • Create Training Programs around your area of expertise

    Content/Focus of the promotions

    • Use specific time-constrained offers
    • Discounts/Coupons
    • Giveaways
    • Contests
    • Gift with purchase
    • Client Appreciation
    • Open House
    • Seasonal Extended Hours
    • Anniversary
    • Business Events
    • Corporate Gift
    • Donations
    • Trinkets
    • Awards – sponsoring, creating
    • Charity

    © 2006, Gisela McKay. All rights reserved in all media.

    Marketing Pyramid

    Power of the Marketing Pyramid

    Photo: The Power

    "All animals are equal but some animals are more equal than others."
    - George Orwell, Animal Farm 1956

    Imagine this scenario: you are at a professional services firm that has just come off a fairly good year of growing revenue and profits. You want to continue this growth going into the coming year and have decided you are finally going to take some of these profits and invest in marketing. You have accumulated a list of 1,000 clients, former clients, and prospects to target. Everyone turns to you and asks, "Well, how are we going to invest our hard-earned profits?"

    If this sounds agonizingly familiar, you are not alone. Once most professional service firms get past the idea that they are going to invest some money in marketing, they are then faced with the riddle of where and how to spend it.

    While they know not all prospects and clients are equal in terms of business potential, they all too often treat them equally in their marketing efforts. As a result, the marketing budget does not go very far and it is not very effective.

    The rest of the scenario: the next year, profits go into everything but marketing, and, a few months later, the growth curve flattens.

    All Prospects are Not Created Equal

    So what went wrong? To start let's paraphrase Orwell, "All prospects appear equal, but some are definitely more equal and potentially more profitable than others." Since they are not equal, they should not be given equal marketing attention. We want to spend our time and efforts where we have our best chances of success (unlike our friends in the above scenario).

    A very simple tool to help you decide how much and on whom to spend is the Marketing Pyramid. Those of you with any kind of marketing background will realize that there is nothing particularly new about this approach. Consumer marketers have been using this method for years to decide how to market to heavy, medium, and light users through offering coupons, special offers, contests, and other incentives to invite consumers to continue to buy. Since service purchasers generally do not buy in specific quantities each month, service marketers fall into the trap of lumping all of their targets into one prospect category.

    Determine Your A, B, and C Targets

    Let's go back to our first scenario of the firm coming off a successful year. They have identified a total of 1,000 clients and potential clients. However, not all 1,000 of these targets have the same profit potential. To begin rationing out their marketing dollars they should first divide their target list into primary (A), secondary (B), and tertiary (C) prospects.

    As a rule of thumb, primary "A" targets should make up approximately 10% of their list. These should include:

    • Current clients
    • Recent past clients
    • Recent referrals from clients or influencers
    • Any "hot" leads from the last few months (from seminars, speeches, web searches, articles, white papers, etc.)

    The secondary "B" list should make up approximately 25% of the total list and include:

    • Somewhat recent past clients
    • Somewhat recent referrals
    • The top targeted companies from their wish list of future clients (this can be by the verticals with which they have been successful, verticals they target, geography they target, etc.)

    Leads dropped that may be six months cold or older.

    Lastly, the tertiary "C" targets comprise the remainder of the list:

    • The balance of targeted companies from their wish list of future clients
    • Inquiries, business cards, and other contacts
    • Anybody in the list of 1,000 who looks like a good, but not imminent potential client

    Another way to classify your targets is to ask yourself, "If I were to get in front of this person how often will I close the business?" When asking yourself this question, a good rule of thumb to help divide your list is:

    • A's about 1 in 10 (or less) will close
    • B's about 1 in 25 will close
    • C's about 1 in 100 will close

    Now that you have a better understanding of who and where your targets are, you are in a better position to decide how to go about your marketing and parcel out your marketing touches and dollars.

    Communicating to Your Prospects: Unequal Prospects = Unequal Touches

    If you have designated your A's as closing 1 in 10 times, your B's as 1 in 25, and your C's as 1 in 100, then you should spend 10 times more on your A's than your C's and 2.5 times more on your A's than your B's. In addition, you want to personally contact your A's 10 times a year, your B's 4 times a year, and your C's once a year.

    For example, your "A" contact plan might look something like this:

    Contact #

    1. Call to set up a new meeting, lunch, or breakfast about something of value to the prospect.
    2. Send a summary of your meeting.
    3. Send an article of interest to the prospect.
    4. Send an invitation to a special networking event, seminar, or webinar you are hosting.
    5. Send a special note about a speaking engagement that might be of interest to them (even better if you are the one doing the speaking).
    6. Call regarding something you read about them or that would be of interest to them. See if you can expand on what their needs are.
    7. Send an e-mail with an interesting article relating to their business or industry.
    8. Send a letter offering a new white paper your firm has published.
    9. Send a holiday card with a personalized note.
    10. Call to see how they are approaching their needs (and see if they should still be on the "A" list for next year).

    Your communication with your "B" list may consist of #'s 1, 2, 7, and 10. Your "C" list may just get #4 or #8 to keep you on their mind.

    As the year progresses, you will move prospects up and down in the Marketing Pyramid and out of the pyramid (ideally into the closed list) based on the outcomes of some of your contacts and conversations.

    The Results

    In the long run (assuming the 1,000 names from the original scenario and based on our assumptions about closing), you should expect to get 10 new clients from your A list, 10 from your B list, and 7 new clients from your C list.

    If all prospects are not equal, treat them as such. You will end up with continued momentum, continued growth, and greater return on your marketing efforts.